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Motorola Solutions said it's received a $1 billion investment from Silver Lake and will settle its $800 million aggregate principal investment one year ahead of its maturity. Terms call for Silver Lake to buy 1.75% convertible notes due 2024 that will have an initial conversion price of $203.50 a share. Motorola Solutions will pay Silver Lake approximately $1.1 billion in cash and issue approximately 5.5 million shares to settle the $800 million note. Motorola said the new shares are fewer than the second quarter diluted share count that assumed settlement of the full premium for the 2020 Notes in shares.

Motorola Solutions Inc. MSI beat Wall Street targets in the second quarter and raised its sales guidance for the year. The Chicago-based provider of portable radios, software and other types of communications technology products on Thursday reported $1.86 billion in sales for the quarter, up 6% compared with last year.

Motorola Solutions Inc.

Motorola Solutions, Inc. engages in the provision of communication infrastructure, devices, accessories, software and services. It operates through the Products and Systems Integration. The Products segment offers an extensive portfolio of infrastructure, devices, accessories, and software. The System Integration segment primary costumers are government, public safety and first-responder agencies, municipalities, and commercial and industrial customers who operate private communications networks and video solutions typically managing a mobile workforce. The company was founded on September 25, 1928 and is headquartered in Schaumburg, IL.
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